GOLD Fields said it had agreed a new sustainability-linked syndicated credit facility with Australian lenders which represented the first of its type for the country’s gold sector.
The five-year A$500m syndicated credit facility sees Gold Fields receive a margin adjustment based on its performance against sustainability goals such as increasing female representation in its workforce, reducing carbon emissions and using more recycled water.
“Gold Fields remains committed to creating enduring value beyond mining,” said Martin Preece, CEO of the gold producer. He said ESG “has long been integral to achieving this objective. This facility underlines are commitment to continue contributing to the wellbeing of our host communities and mitigating the impact of our operations on the environment”.
The sustainability-linked indicators are the same as those being used by Gold Fields in its five-year $1.2bn revolving credit facility announced in May this year. They are aligned to the company’s strategy and its 2030 ESG targets which prioritise gender diversity, decarbonisation and water stewardship, the company said.
Commonwealth Bank of Australia acted as the sole sustainability coordinator, mandated lead arranger and book runner and facility agent for the deal, Gold Fields said.
Gold Fields is due to announce a new CEO, said Bloomberg News citing the group’s interim boss Martin Preece.
Preece told the newswire the company had recently completed the final rounds of interviews with candidates. Gold Fields is just beginning a search for a new chief financial officer after Paul Schmidt retired in August, he said.
Asked about the leadership position in June, Preece told Miningmx that he wanted the job on a full-time basis, adding that the departure of former CEO Chris Griffith in November hadn’t unduly harmed Gold Fields. He also said it was important to move away from a business run by personalities to one run by a corporate personality.
